Overview
Denbighshire presents a diverse economic landscape with notable activities in construction, professional services, retail trade, and other service activities. The region shows positive growth indicators, including a 5.13% growth in employee numbers and the development of scaleups. However, challenges remain in areas like gender diversity in business leadership and company cessation.
Employment and Business Growth
- Total Employees: 23,325 employees. Denbighshire’s workforce has grown by 5.13%, indicating a healthy job market and a potential increase in economic activities across various sectors.
- Employee Growth: 199 companies reported an increase in employee numbers. This signifies a robust business environment conducive to expansion and job creation.
- Top Sectors for Employment: Construction (13.72%), Professional/Scientific/Technical activities (13.57%), Retail Trade (12.27%), and Other Service Activities (9.03%) dominate the employment landscape, reflecting a diverse economic base.
Sector Dynamics
- Top Sectors: Construction, Professional Services, and Retail Trade lead in the number of companies, signifying their pivotal role in Denbighshire’s economy.
- Rising Sectors: Other Technology/IP-based businesses, Machinery, Ships, Plastics, and Other Industrials show an increase in the number of companies, pointing to emerging sectors that could drive future growth.
Business Continuity
- Company Cessations: With a high number of company cessations (5037 in total), there’s a need to delve deeper into the reasons for this trend to foster a more sustainable business environment.
- New Companies in 2 Years: 1,065 new companies in the last two years indicate a dynamic entrepreneurial climate, but this needs to be balanced against the high cessation rate.
Gender Diversity in Leadership
- Founders: 14.29% of companies have female founders, while 78.57% have male founders. This highlights a significant gender gap in entrepreneurship.
- Directors: 28.39% female and 67.79% male directors. While more balanced than the founders’ statistics, there’s still room for improvement in gender diversity at the leadership level.
Scaleups and Innovation
- Number of Scaleups: 31 scaleups, suggesting a nurturing environment for growing businesses.
- Patent Owners and Grantees: The presence of 165 patent owners and 4 grantees indicates a certain level of innovation and intellectual property development within the region.
Conclusion
Denbighshire’s economy is characterised by a diverse sectorial presence, with notable growth in employment and emerging industries. However, challenges in business continuity, gender diversity in leadership, and innovation need to be addressed to sustain and enhance this growth.